Exxon Mobil Corporation is a Fortune 500 American multinational oil and gas firm headquartered in Texas, United States. The company is the world’s second largest firm by revenue after Wal-Mart during the fiscal year 2013. The firm is also the second largest publicly traded corporation based on its market capitalization.
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Exxon Mobil Internal and External Stakeholders
Employees are responsible for daily operations of the company. Exxon Mobil leverages on its employees to create competitive advantage in the industry.
Shareholders provide financial support for the company and expect returns on their investments.
Governments are responsible for regulating the oil and gas industry in which the company operates. These regulations may favor or introduce stringent measures that can affect business operations and revenues.
Suppliers are Exxon Mobil partners that provide required products and services to support the company’s operations.
Customers buy the company’s products and services. They continue to demand high quality products and services from Exxon Mobil.
Communities are spread globally in areas where Exxon Mobil runs its operations. The company must protect environments and communities in such areas through CSR activities.
NGOs continue to watch operations of Exxon Mobil with the aim of protecting environments and human rights.
Academic institutions work with the company to develop the best technologies and management practices in the industry.
Exxon Mobil Vision and Mission
“Exxon Mobil Corporation is committed to being the world’s premier petroleum and petrochemical company. To the end, must continuously achieve superior financial and operating results while simultaneously adhering to high ethical standards”.
From this mission statement, Exxon Mobil focuses on making high returns and profits, and it has been successful on this mission. Moreover, it also operates under ethical principles that guide its relationship with all stakeholders.
Exxon Mobil Goals
Global expansion – a strategic plan
Exxon Mobil continues to expand globally. The company can focus on strategic partnership with countries, which have recently discovered oil and gas, especially in Africa. It may also seek further alliances with oil-rich countries. This would ensure global presence and high returns for investors.
Meeting energy demand
The company will have to continue to invest in energy in order to meet the rising global demand.
The use of hydraulic fracturing – an operational plan
The use of hydraulic fracturing to extract shale gas has brought about environmental issues. On this regard, Exxon Mobil can leverage on the best technologies in order to enhance operational efficiency with the aim of reducing environmental pollution and increasing output from the well.
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By enhancing efficiency through technologies, the company can reduce emission of greenhouse gas on a long-term basis.
- Exxon Mobil is the leading oil and gas company globally.
- Strong financial performance
- Adequate capital for investments, for instance, the company plans to invest about $38 billion per year through 2017 to meet the increasing energy demands by consumers
- Leveraging on technology for efficiency
- Decline in profits because of the reducing oil and gas reserves and production
- Too many legal issues
- Slow pace of using technologies for efficiency
- Increasing oil and gas demands, especially in Asia
- New oil blocs in Africa
- Massive capital for investment
- New partnership
- Alternative energies
- Economic slowdown in the US and Europe
- Stiff regulations by governments
- The industry’s fierce competition
- Instability in countries like Nigeria and the Middle East region
- Constant demands by NGOs and human right activists, especially about hydraulic fracturing technologies and oil spill (Germain and Mendola, 2013)
Biers, J. (2014). ExxonMobil profits fall as oil, gas output dips. Web.
Exxon Mobil Corporation. (2014). About Us: Guiding Principles. Web.
Germain, T., and Mendola, G. (2013). What Are Exxon, Shell, And ConocoPhillips Doing With Their Billions In Q2 Profits? Web.